“It pays to be bold, even in the face of inevitable setbacks.”
Each year, Korn Ferry works with Fortune to identify The World’s Most Admired Companies [WMACs]. One thing that many of these highly successful organizations have in common is their ability to change, despite their size. This organizational agility gives them an unbeatable competitive advantage. For them, success doesn’t happen in spite of change, it happens as a result of it.
WMACs are engineered to evolve. Their adaptability is driven by their readiness to take risks in order to seize an opportunity. These are businesses that say ‘yes’.
What’s the secret to turning change into opportunity?
See into the future
WMACs are better able to anticipate change, and the opportunity that comes with it. They think ahead and embrace change when it inevitably comes. A strong guiding vision helps them seize only the right opportunities, so they don’t lose focus or spread themselves too thin.
Move fast, change faster
These organizations need to respond quickly to market opportunities so they can get there first. They anticipate what skills they’ll need in the future, and rapidly respond to fill in any gaps. This future-facing, responsive strategy is designed for innovation and efficiency, regardless of size.
Get flexible
WMACs think in terms of skills rather than positions. Dynamic, cross-functional teams put the right expertise in the right place at the right time, with everyone aligned to a common purpose. This flexible working style creates flexible thinkers, people prepared to make bold decisions.
Take more chances
Promoting and sustaining a culture of agility depends on how an organization responds to failure. It pays to be bold, even in the face of inevitable setbacks. By empowering people to take risks without fear of adverse consequences, WMACs drive innovation, learning, and development.
Your industry is changing, increasingly fast. That’s either a risk to your organization, or an opportunity to be seized. It all depends on your approach. Korn Ferry provides end-to-end support to organizations that want to transform their business. We can help guide your business through each critical step towards your growth and evolution.
Since 1997, Korn Ferry has partnered with FORTUNE magazine to identify and rank the World's Most Admired Companies [WMAC]. We survey top executives and directors from eligible companies, along with financial analysts, to identify the companies that enjoy the strongest reputations within their industries and across all sectors. Find out more >>
